you have a low at 1.5855
you have a high at 1.5915
so now that the price has retraced from the high and not gone lower yet then if it breaks the current high at 1.5915 it will create a higher high which in turn will be a 123 low breakout.

The GBPUSD based on 4 hour chart its looking bearish due to the test of the breakout point.
Look how it tested it perfectly then dropped. The only time id start to consider a long is if this can finish above 1.5915.
Obviously this can all change in a few hours

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